The NC Innovation Council is on the hunt for an executive director to oversee its regulatory sandbox program designed for financial and insurance companies.
That's after the 11-member group recently tapped new leadership. It appointed Doug Hague, UNC Charlotte's executive director of the School of Data Science, to serve as chair of the council. Agnes Gambill-West, an associate professor at Appalachian State University, was brought on as vice chair. They are both based in the Charlotte region and started their roles Feb. 28.
Hague succeeds Katherine Bosken, North Carolina's 13th Commissioner of Banks. Gambill-West replaces Lawrence Baxter, a retired David T. Zhang Professor of the Practice of Law at Duke University.
The NC Innovation Council is looking to hire its first executive director to manage the sandbox and operations of the group. The position will be remote; however, the leader will also have in-person responsibilities across North Carolina, Gambill-West told CBJ.
Applications for the newly created position will be accepted until May 22.
"The executive director will be expected to travel regionally and nationally to discuss sandbox activities, raise awareness of regulatory efforts and changes, and promote sandbox opportunities," she said.
The person elected to that role would also be required to ensure sandbox users comply with open meeting laws, serve as the administrative rules coordinator and work as the council's legislative and ethics liaison for before the State Ethics Commission, Gambill-West said.
The regulatory sandbox allows business owners to apply for an interim exemption from the NC Innovation Council for ideas typically blocked by state regulations. The site launched late in 2022, following a year of work on the platform after legislation establishing the regulatory sandbox was passed in October 2021.
Companies can apply for the program on the council's website, innovation.nc.gov. Approved applicants will have access to the sandbox for two years and will be under guidance from the council.
Members include Tariq Bohkari, Charlotte City Council member and leader of the Carolina Fintech Hub; government regulators appointed by Gov. Roy Cooper; and experts in finance and technology.
Gambill-West said the Innovation Council hopes the sandbox program will draw new businesses, produce jobs and create industries in North Carolina. The group believes those outcomes will lead to economic growth for the state.
The council also aims to explore blockchain initiatives, such as identifying use cases for the technology that could benefit North Carolina and enhance state government administration, she said.
The organization hopes to collaborate with regulators and entrepreneurs on discovering rules that may need to be mended or eradicated.
"They unnecessarily encumber businesses and entrepreneurs who are building transformational products and services in the financial and insurance sectors," Gambill-West said.
